The state’s peak business organisation Business NSW has asked the Federal Government to provide a clear pathway for business recovery in its annual pre-budget submission to Treasury.
Central Coast Regional Director, Paula Martin, said last year’s delayed budget was understandably about providing economy-wide support for the industry but this year had to be about accelerating the path to the new normal.
“In our most recent Business Conditions Survey conducted across NSW, 23 percent of businesses believed that they were at a high risk of failure when supports such as JobKeeper, tax relief, interest waivers and other measure end,” Martin said.
“With 11,000 local businesses utilising JobKeeper on the Central Coast, this rate of unpreparedness could mean job losses.
“Whilst we saw bumper Christmas trade, particularly in our beach towns, some businesses tell me that they are surviving month to month, especially those in the events and tourism industry.
“This vulnerability will hang over the small business sector for much of the year and will need to be factored into decisions around when and how measures are withdrawn.
“We support the Australian Chamber of Commerce and Industry’s call to introduce a new program of wage subsidy support for businesses heavily impacted by government restrictions, such as those in the travel, tourism and hospitality sectors,” Martin said.
Media release, Feb 3
Business NSW Central Coast Regional Director, Paula Martin